Fortis Healthcare trims losses, stock down 1% after falling 13% intraday

SOCK MARKET - Fortis Healthcare trimmed most of its losses and was down 1% after hitting 30-month low of Rs 126, down 13% on the National Stock Exchange (NSE) in intra-day trade, on the back of heavy volumes. The stock was trading at its lowest level since February 11, 2015.

The trading volumes on the counter more than doubled with a combined 19.15 million equity shares 3.7% of total equity of Fortis Healthcare exchanging hands on the NSE and BSE till 10:20 am.

On August 14, Fortis Healthcare had informed the stock exchanges that, Fortis Healthcare Holdings Private Limited, the promoter of the company, sold 5.46 million (1.05%) equity shares on August 10, through off-market.

Due to sale from July 25, 2017 to August 10, 2017, the cumulative shareholding of Fortis Healthcare Holdings, has been reduced by 2% accordingly, this disclosure has been made, it added.

Earlier, on July 18, 2017, Fortis Healthcare Holdings had sold 13.5 million or 2.6% stake of Fortis Healthcare for Rs 203 crore through open market on NSE. 

Meanwhile, total promoters holding in company declined from 62.91% on January 28, 2017, to 42.96% at the end of June 2017 quarter, the shareholding pattern data shows.

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